According to a circular issued by the Deputy Minister of Social Security Pavlos Haikalis, as of January 1st 2015, the minimum pension paid out has been reduced from the current 486 euros to 392.7 euros per month.

The circular effectively activates a legal provision that passed through Parliament in 2010 and is one of many changes to the country’s ailing pension system that will gradually be implemented, following the approval of the third bailout in Greek Parliament.